Five years for fraud – Money moved to secret accounts

The former president of the Marine Corps Toys for Tots Foundation was sentenced to nearly five years in prison Tuesday for defrauding the charity of $1.8 million, the Associated Press reported June 27.

Jerry Lee King was indicted on 22 counts, but pled guilty in March to one count of wire fraud and one count of making false statements on a tax return.

He was given the maximum sentence of four years and nine months in prison and ordered to repay the nonprofit for its losses.

Investigators found that between 1991 and 1993 King diverted money from the charity through at least five secret bank accounts in Hong Kong. He used some of the money for his own businesses, bought himself a car and paid for his son’s college expenses.